Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Peterson Wealth Services

Peterson Wealth Services lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,154 shares of the coffee company’s stock after purchasing an additional 304 shares during the quarter. Starbucks comprises about 1.2% of Peterson Wealth Services’ investment portfolio, making the stock its 27th largest position. Peterson Wealth Services’ holdings in Starbucks were worth $2,703,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in SBUX. Norges Bank acquired a new position in shares of Starbucks during the 4th quarter worth $1,222,931,000. Moneta Group Investment Advisors LLC boosted its position in shares of Starbucks by 115,334.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,493,639 shares of the coffee company’s stock worth $842,569,000 after buying an additional 8,486,281 shares in the last quarter. Morgan Stanley boosted its position in shares of Starbucks by 46.3% in the 4th quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock worth $2,650,462,000 after buying an additional 8,451,599 shares in the last quarter. Flossbach Von Storch AG boosted its position in shares of Starbucks by 8,677.8% in the 4th quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock worth $260,706,000 after buying an additional 2,684,470 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Starbucks in the 1st quarter worth about $190,270,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. StockNews.com lowered shares of Starbucks from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Gordon Haskett lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research report on Tuesday, January 16th. Wedbush restated a “neutral” rating and issued a $95.00 target price on shares of Starbucks in a report on Wednesday, January 31st. Morgan Stanley reduced their target price on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, March 19th. Thirteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $107.43.

Insider Buying and Selling

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders sold 7,250 shares of company stock valued at $653,183. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Stock Performance

SBUX traded up $0.33 on Thursday, reaching $86.54. 1,510,548 shares of the company’s stock were exchanged, compared to its average volume of 8,272,816. The company’s 50 day moving average is $91.33 and its 200-day moving average is $94.47. The company has a market cap of $97.98 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 1.37 and a beta of 0.97. Starbucks Co. has a twelve month low of $84.29 and a twelve month high of $115.48.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The business had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the company posted $0.75 EPS. Sell-side analysts forecast that Starbucks Co. will post 4.03 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.